---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-043527"
form_type: "8-K"
ticker: "CNVS"
cik: "0001173204"
company_name: "Cineverse Corp."
filed_at: "2024-04-11T23:59:59+00:00"
generated_at: "2026-06-03T23:50:39.236375+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Cineverse subsidiary enters $3.666M loan for 'Terrifier 3' film distribution

## Summary
- Loan principal up to $3,666,000; maturity April 1, 2025, extendable 120 days.
- No interest until maturity except a $576,000 advance; 1.44% per month if extended.
- Proceeds fund distribution of Terrifier 3; lender gets 15% of royalties post-payment up to 1.75x commitment.
- Parent guarantee capped at $1.5M, subordinated to East West Bank facility; Amendment No. 3 signed.
- Loan secured by first priority interest in film rights and distribution agreements.

## SEC filing metadata
- accession: 0000950170-24-043527
- form_type: 8-K
- ticker: CNVS
- cik: 0001173204
- company_name: Cineverse Corp.
- filed_at: 2024-04-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/cnvs-20240405.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-043527
- JSON: https://secwatch.observer/filing/0000950170-24-043527.json
- Plain text: https://secwatch.observer/filing/0000950170-24-043527.txt

## Key facts
- Debt Financings
  Cineverse Corp. incurred guarantee of capped at obligations not exceeding $1,500,000 with BondIt LLC.
  - Instrument: guarantee
  - Principal: capped at obligations not exceeding $1,500,000
  - Counterparty: BondIt LLC
  - Event: incurrence
  source text: The Company entered into a Guaranty Agreement pursuant to which it provided a guarantee of the T3 Loan which is capped at obligations not exceeding $1,500,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm
- Debt Financings
  Cineverse Corp. incurred term loan of not to exceed $3,666,000 with BondIt LLC at interest at a rate of 1.44% per month maturing April 1, 2025, unless extended for 120 days.
  - Instrument: term loan
  - Principal: not to exceed $3,666,000
  - Counterparty: BondIt LLC
  - Rate: interest at a rate of 1.44% per month
  - Maturity: April 1, 2025, unless extended for 120 days
  - Event: incurrence
  source text: The T3 Loan Agreement provides for a term loan with a principal amount not to exceed $3,666,000 (the “T3 Loan”), and a maturity date of April 1, 2025, unless extended for 120 days. The T3 Loan bears no interest until the maturity date other than an interest advance equal to $576,000 deemed earned at the closing of the T3 Loan on April 5, 2024. If the T3 Loan is extended as noted above, the T3 Loan will bear interest at a rate of 1.44% per month.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm
- Material Agreements
  Cineverse Corp. entered into Loan and Security Agreement with BondIt LLC valued at not to exceed $3,666,000 (effective 2024-04-05).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: BondIt LLC
  - Value: not to exceed $3,666,000
  - Effective: 2024-04-05
  source text: On April 5, 2024, Cineverse Terrifier LLC (“T3 Borrower”), a wholly-owned subsidiary of Cineverse Corp. (the “Company”) entered into a Loan and Security Agreement with BondIt LLC (“T3 Lender”) and the Company, as a guarantor (the “T3 Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.